The market is dominated by foreign suppliers, as imports account for 94.3% of total market size in 2022. B2B drives market demand, with B2B spending representing 95.4% of total demand in 2022. The UK has the fourth largest market size for extraction of crude petroleum and natural gas regionally, with demand reaching USD100 billion in 2022. BP plc is the largest company in the UK, generating 4.8% of the industry’s total production value in 2022. The industry is fragmented, with the top five companies generating 18.1% of total production value in 2022. The total number of companies decreases in 2022, to 6,893 units. The costs of the industry increase by 12.5% in 2022, largely driven by rising B2B costs. The industry’s profitability increases and stands at 73.4% of production value in 2022, the third highest regionally. The industry’s exports share increases in 2022 to 91.0% of total production output. With production value of USD66.6 billion, the UK accounts for 17.5% of the Western Europe total in 2022.
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This Euromonitor industrial report provides unique information on Extraction of Crude Petroleum and Natural Gas in the United Kingdom: ISIC 11. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Extraction of Crude Petroleum and Natural Gas in the United Kingdom: ISIC 11 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
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